The total amount of social insurance taxes you owe the federal government is $3,596.
The social insurance taxes will be tax rate (6.2%) of gross income amount of $58,000 which is calculated using this formula
Social insurance taxes=Social security tax rate× Gross income
Where:
Social security tax rate=6.2%
Gross income=$58,000
Let plug in the formula
Social insurance tax=6.2%×$58,000
Social insurance tax=$3,596
Inconclusion the total amount of social insurance taxes you owe the federal government is $3,596.
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Answer:
the capital structure weight of the firm's equity will be 57.14 %.
Explanation:
Weighted Average Cost of Capital is the return that is required by the providers of long term sources of finance.
A debt–equity ratio of 0.75 means:
Debt : Equity = 0.75 : 1
The Total Ratio will be = 0.75 + 1.00
= 1.75
Therefore, the capital structure weight of the firm's equity will be :
Equity Weight = Equity Ratio ÷ Total Ratio
= 1.00 ÷ 1.75
= 0.5714 or 57.14 %
Answer: Advertising seeks to appeal to a mass audience with a uniform message.
Explanation: Advertising involves creating awareness about a product or service to the public through the various channels of communication.
Advertising aims at getting across a message of a product to its target customers via the various channels of communication such as: social media, T.V, radio etc.
Answer:
a. Michael's personal assets are not recorded on the company's balance sheet:
Explanation:
the question in incomplete, so I looked it up:
Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the campus of Penscola State College. The business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. The business debts include accounts payable of $6,000. Michael's personal home is valued at $400,000, and his personal bank account has a balance of $1,200. Identify the principle or assumption that best matches the situation:
In accounting, the economic entity principle states that a company's financial records are separate and distinct from the financial records of its owners. Even though Michael is the owner of company, his personal assets should not be included in the company's financial statements.
